Erisa Habsjah & Farid Abdurrahman
IPO Research Rerport, Thursday 14 August 2008
This month Government of Indonesia (GoI) shall issue Rupiah denominated Surat Berharga Syariah Negara (SBSN) as part of 2008 state budget (APBN) financing. SBSN – also known as Sukuk Negara – is a government securities based on shariah principle. This first SBSN will use ijarah (Sale and Lease Back) scheme that offers periodic fixed rental payment and principal payment at maturity.
The rapid growth of domestic and global shariah financial markets is a good foundation for SBSN issuance. This growth is attributable to the fact that shariah-based securities are instruments for both conventional and shariah investors. Consequently, we are confident that SBSN will be a success as well with the great potential it harbored in. (download the bilingual research report)
Posted on August 14, 2008
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